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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  SWEDISH AUTOMOBILE    SPYKO   NL0009816248

SWEDISH AUTOMOBILE (SPYKO)
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Receivers Say Saab Auto Debts SEK13 Billion, Assets SEK3.6 Billion

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04/10/2012 | 05:13am EST

The official receivers of bankrupt Saab Automobile AB Tuesday said the total debt of the Swedish car maker and its two subsidiaries amount to 13 billion Swedish kronor ($2 billion), while total assets stood at SEK3.6 billion.

In addition about SEK2.2 billion plus interest, paid by General Motors Co. (GM) for preferred stock in Saab Automobile, can be regarded as a claim, they said. Other transactions with GM shows a net debt to GM of an additional SEK606 million. These transactions are, however, subject to further investigation.

Total liabilities related to the employees of Saab Automobile and its subsidiaries amounts to SEK1.4 billion.

The receivers, Hans L. Bergqvist, a partner at law firm Delphi, and Anne-Marie Pouteaux, a partner at Wistrand, said employees of Saab Automobile AB can't expect any dividends, while employees of Saab Automobile Powertrain AB can count on some dividend.

Claims from the Swedish National Debt Office, or NDO, amount to SEK2.2 billion. The NDO, which provided state-backed guarantees to Saab Automobile's loans in the European Investment Bank, had collateral in machinery and other inventories in Saab Automobile Tools AB, Saab Automobile Property AB and Saab Automobile Parts AB.

Saab Automobile, which filed for bankruptcy last December, was owned by Dutch car maker Swedish Automobile N.V. (>> SWEDISH AUTOMOBILE).

-By Christina Zander, Dow Jones Newswires; +46-8-5451-3104; christina.zander@dowjones.com

Stocks mentioned in the article : SWEDISH AUTOMOBILE
Stocks mentioned in the article
ChangeLast1st jan.
GENERAL MOTORS CORPORATION -1.26% 37.67 Delayed Quote.12.62%
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